The market uptrend that kicked back into gear in late April came under pressure last week.

But no matter what phase the market is in — a confirmed uptrend or a correction — it pays to be nimble. After all, markets — both good and bad — can turn on a dime.

That means it’s crucial to watch the broader market as well as individual stocks.

And this month, we’ll show you some easy ways to do both.

Get The Big Picture

The Big Picture column’s Market Pulse graphic lets you quickly see whether the market is in a confirmed uptrend or grinding through a correction. The Big Picture will also alert you if one of the indexes has logged a follow-through day signaling a new uptrend — or if distribution days are piling up and a downturn may be looming.

Know When To Buy

Stick with stocks that have strong fundamentals — like earnings and sales growth — and are breaking out of solid chart patterns. And only buy stocks when the broader market is in an uptrend. After all, three out of four stocks simply follow the overall market trend.

Selling at the right time is just as important as buying at the right time. And don’t worry if you don’t sell at a stock’s absolute peak. A better strategy is to know how to spot sell signals that crop up ahead of a downturn. Warning signs like a sharp drop below the 50-day on the heaviest volume in months or a big one day price decline often mean there’s trouble ahead. Offensive and defensive selling are covered extensively in How to Make Money in Stocks — Getting Started there’s also a handy Selling Checklist to help you spot the warning signs. (See how to use the Selling Checklist.)

BASES

Genesee & Wyoming (GWR)Owns and operates regional freight railroads in the U.S., Australia, Canada, and the Netherlands. Earnings growth has accelerated, coming in at 50% last quarter. Sales growth also picked up and stood at 81% in the latest report. For the full year analysts see earnings rising 76% in 2013, but just 13% in 2014. The stock has formed a cup-with-handle base with a 93.71 potential buy point. Watch to see if it can break out past that buy point on volume at least 40% above average. If it does, it could provide a buying opportunity.

Evercore Partners (EVR)Boutique investment bank and asset manager. After a spotty track record in 2012, earnings and sales have bounced back with earnings rising 270% last quarter and sales increasing 45%.  But analysts see that red-hot growth cooling going forward and predict earnings will climb just 16% in 2013 and 26% in 2014. The stock has formed a cup-with-handle with a 42.46 potential buy point.

Fleetcor Technologies (FLT)Provides fuel cards and other services to businesses to help manage their vehicle fleets. Earnings growth ranged from 46% to 50% the past three quarters.  Sales growth came in between 32% and 45% during the same period. Going forward, analysts predict earnings will climb 27% in 2013, but just 15% in 2014. The stock has had a great run in recent months and recently broke out of a four-weeks-tight pattern, climbing past the 85.66 ideal buy point. However, earlier this week, the stock dropped back below that buy point. Watch to see if it can find its footing and resume its climb.

Financial Engines (FNGN)Provides portfolio management services and investment advice, with a focus on 401(k) plans that help employees manage their investments. Earnings growth accelerated last quarter, coming in at 50%.  Sales growth also picked up and stood at 29% last quarter. Analysts see earnings rising 38% in 2013 and 23% in 2014. The stock is extended after breaking out past the 36.93 ideal buy point in a flat base in early May.

Alaska Air (ALK)Provides airline passenger transportation via Alaska Airlines and Horizon Air as well as freight and mail services. Sales growth has been in the single digits, but has been rising in recent quarters increasing from 6% to 8% to 9%.  Earnings growth — a key factor to look at in a stock — has also shown strong acceleration, rising from 17% to 59% over the last three quarters. Broke out of a flat base May 6 on volume 94% above average. The ideal buy point was 64.65, ten cents above the peak on the left side of that pattern. But the stock soon pulled back and on May 20 sliced below the 50-day moving average line as volume hit the heaviest level in months — a sign big investors were selling. It also fell 8% below the ideal buy point, triggering a cardinal rule of selling: Always sell if a stock drops 7% - 8% below what you paid for it.

Medicines Company (MDCO)Develops drugs used in critical-care hospital situations and coronary interventions. Earnings growth ranged from 50% to 135% the past four quarters. Sales growth has accelerated the past two quarters, coming in at 23% in the latest report. Analyst predict earnings will fall 47% in 2013 and then rise 61% in 2014. Broke out past the 35.29 ideal buy point in a flat base in early May. Climbed for a few days, then started to pull back. On May 21, it tumbled below the 50-day line intraday, triggering IBD’s 8% sell rule. And though it managed to close above the 50-day line that day, it has spent the time since then trading below it.

About Investor's Business Daily

Investor’s Business Daily provides exclusive stock lists, investing data, stock market research, education and the latest financial and business news to help investors make more money in the stock market. All of IBD’s products and features are based on the CAN SLIM® Investing System developed by IBD’s Founder William J. O’Neil, who identified the seven common characteristics that winning stocks display before making huge price gains. Each letter of CAN SLIM represents one of those traits.

Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.